Compared to the international market for bulk cocoa, the market for fine or flavour cocoa is generally regarded as a relatively small, highly-specialized and separate market, with its own supply and demand characteristics. Specialist agents buy directly from fine or flavour origins for specific chocolate companies. The price received is determined by the supply-demand balance for that particular origin and type of cocoa, with the quality and flavour requirements of the consumer being the primary considerations. Short-term factors influence the offers and bids in this small market with few participants, and hence the price obtained is highly variable. Nevertheless, fine or flavour cocoa normally commands a premium over the price on the London and New York cocoa futures markets.

However, there are indications that in the nineties and in the major part of the past decade, the levels of premiums for fine or flavour cocoa had generally declined. This phenomenon resulted partly from the widespread concern among users of fine or flavour cocoa about the reliability of future supplies, both in terms of quantity and quality. Indeed, to enable a chocolate manufacturer to plan for the continued inclusion of a particular type of cocoa in his recipe, he must be assured of a regular supply of that particular cocoa, in the quantities and quality he requires. In addition, progress made in the manufacture of chocolate allowed companies to maintain or improve the taste of chocolate products despite lower quality and flavour of the cocoa beans. The resulting lower demand for fine or flavour cocoa beans as well as the mixing of fine and flavour cocoa beans with bulk cocoa beans led to declining price premiums for this type of cocoa.

The recent increasing demand for high quality chocolate gave the fine or flavour cocoa market a new lease of life. Indeed, most major chocolate manufacturers have included premium quality chocolate products in their range. These require fine or flavour cocoa from specific origins in their recipes, in order to achieve the required distinctive taste or colour of the chocolate. Many new chocolate artisans are emerging as well, bringing more demand for this cocoa type. The growing success for fine or flavour cocoa has a direct positive impact on the sustainability of the farming cocoa sector through significantly higher farm gate price paid to the producer.  It could be noted that the development of fine or flavour cocoa market is closely linked to the emergence of new consumer trend to organic cocoa and beans-to bar.